Mainstream Capital Management LLC Acquires Shares of 2,232 Cisco Systems, Inc. (NASDAQ:CSCO)

Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,232 shares of the network equipment provider’s stock, valued at approximately $132,000.

A number of other institutional investors have also modified their holdings of the stock. Morse Asset Management Inc purchased a new position in shares of Cisco Systems in the 3rd quarter valued at about $798,000. HighVista Strategies LLC purchased a new position in shares of Cisco Systems in the 3rd quarter valued at about $1,698,000. GAMMA Investing LLC increased its stake in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Cisco Systems in the 3rd quarter valued at about $502,000. Finally, Quintet Private Bank Europe S.A. increased its stake in shares of Cisco Systems by 17.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after purchasing an additional 92,179 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now directly owns 200,191 shares in the company, valued at $12,886,294.67. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,848 shares of company stock worth $4,767,206 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.0 %

CSCO opened at $63.48 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a market capitalization of $252.54 billion, a PE ratio of 27.72, a P/E/G ratio of 4.16 and a beta of 0.84. The business’s 50 day moving average price is $61.32 and its 200 day moving average price is $57.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is 71.62%.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Citigroup boosted their price objective on Cisco Systems from $71.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Piper Sandler boosted their price objective on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.